An FHA loan is a mortgage insured by the Federal Housing Administration. Learn down payments, MIP, credit rules, and who it fits with The 2 Mortgage Guys.
An FHA loan is a mortgage insured by the Federal Housing Administration. Learn down payments, MIP, credit rules, and who it fits with The 2 Mortgage Guys.
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An FHA loan is a home mortgage insured by the Federal Housing Administration. It is built for owner-occupants — especially first-time buyers and borrowers who need flexible credit or a lower down payment.
FHA does not lend you money directly. A lender like Luminate Bank originates the mortgage, and FHA mortgage insurance protects that lender if the borrower defaults. That insurance is why FHA can accept thinner credit files and smaller down payments than many conventional programs.
You typically choose a fixed-rate term (often 15 or 30 years). Monthly payments usually cover principal, interest, taxes, homeowners insurance, and monthly MIP. Most purchases also include an upfront MIP that is commonly financed into the loan.
FHA is for primary residences only — not second homes or pure investment properties — though 2–4 unit homes can work when you occupy one unit.
When conventional guidelines feel tight, FHA often keeps the purchase moving.
Not sure if FHA is the right fit? Compare it with other programs we close every week.
Related guides to help you compare options and move toward pre-approval.
Run the numbers before you apply — then get a real pre-approval from Ryan or Steve.
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Steve DeLon NMLS# 202876
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